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Newtek gets patent for referral processing tracking system
NEW YORK (9/25/12)--Newtek Business Services, The Small Business Authority, received a patent on its internally developed, customer referral, tracking and processing software. 

Newtek Business Services is a CUNA Strategic Solutions provider.

The NewTracker Referral Processing and Tracking System is a cloud-based software as a service platform that integrates the secure receipt, processing, tracking and reporting of business referrals and leads.  A substantial portion of Newtek's business comes from referrals from other organizations and businesses--its alliance partners. Those referrals and all business done by Newtek are routinely input and processed on the NewTracker system.

"The ability of Newtek to efficiently and effectively process large volumes of business opportunities while maintaining the highest levels of quality control and security for businesses interested in business loans, cloud computing services, eCommerce solutions, payroll services, personal and commercial insurance, merchant processing, Web services and technology solutions rests squarely on NewTracker," said Barry Sloane, Newtek chairman/CEO.

"The NewTracker system, which we have developed and refined over more than eight years, is a clear example of the execution of Newtek's strategic, long-term plan to position The Small Business Authority as the provider of choice for business and financial services to business owners and operators nationwide," Sloane said.

CUNA Strategic Services has been a referring partner to Newtek contractually since 2003, said Wes Millar, senior vice president of CUNA Strategic Services. "One of our primary goals in serving credit unions is to provide the highest level of customer service and most attractive products to both credit unions and their members," Millar added.

"The historical experience over the course of nine years with Newtek Business Services has driven credit unions to do more business with Newtek across more products. One of the strengths of the company is the NewTracker platform that provides full transparency into the back office of Newtek and assures us that credit unions are receiving the best products at the best prices with the highest level of service," Millar said.
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